Castlefield Employment Sector’s Growth Positively Impacts Off Plan Property Investment

Castlefield Employment Sector is growing rapidly, and the population and employment growth over the recent years has impacted off plan property investment with investors seeking to capitalise on the rising demand for quality accommodation close to places of work. 

The vibrancy of the district and its close proximity to Manchester city centre and Salford are among the factors attracting businesses to set up in Castlefield. This is great news for investors, as the working class's demand for properties continues to increase.

Rising Castlefield: From Once An Industrial Area To Becoming An Employment And Property Investment Hub

Castlefield’s regeneration projects have created new employment opportunities, and the new housing developments make Castlefield one of Manchester city's most sought-after residential areas.

Castlefield was the central hub for Manchester’s goods transportation network. It was the terminus of Bridgewater — the world’s first industrial arterial canal and the home to the world’s first canal warehouse, the Grocer’s. Castlefield also became the site for the world’s first inter-city passenger railway station — the Manchester Liverpool Road and the area where a Victorian Viaduct was constructed to carry the railway line.

Over the following decades, the Castlefield area became more of a space for leisure. Castlefield experienced massive regeneration, and since the viaduct's closure, it opened opportunities to the growing service and property investment sector. 

To date, the Castlefield Victorian Viaduct is being transformed into a £1.8 million Urban Sky Park — a green space with trees, flowers and shrubs to attract tourists and nearby tenants. The old Liverpool Road station was converted into the Science and Industry Museum, and various other cultural venues were constructed.

Additionally, the Castlefield Locks’ idyllic waterfront location and cobbled streets became home to high-end restaurants, cafes, and bars, making it one of the most popular leisure spots in Manchester city centre.

Castlefield’s Booming Economy Means Creation Of New Businesses And Job Opportunities Which Attract Property Investments

Castlefield is enjoying a newfound resurgence as entrepreneurs and property investors recognise its growth potential. This is evidenced by the creation of over 100 businesses and jobs in the area. The booming economy means there has never been a better time for property investment in Castlefield. 

Castlefield sits in the city's historic canal basin with its warehouses converted into apartments, galleries, studios, offices, restaurants and bars, employing residents and the nearby city's population.

There are so many great employment opportunities in Castlefield that the working class will be able to explore. From retail and dining to property developments and finance, there are many businesses which contribute to Castlefield’s burgeoning economy. So for a solid investment opportunity, Castlefield is definitely worth considering.

Manchester And Salford’s Regeneration Jumpstarts Castlefield Employment Opportunities

Manchester is continuously reinvigorating its area, which opens up Castlefield employment opportunities. In fact, since 2016, the employment rate has been growing to 30.7%. Additionally, Manchester is home to 80 of the 100 Financial Times Stock Exchange companies.

With these, there has never been a better time to invest in Castlefield properties to make the most of this boom as young professionals seek nearby residences and answer Manchester’s shortfall of 9,000 properties per year.

Part of Manchester’s regeneration is the £40.6 billion High Speed 2 railway, which will connect Manchester to London and the Midlands. It will create 55,000 jobs and further demand for higher-quality housing by the working class and commuters. 

Moreover, 1,500 new jobs will also be created with Manchester’s airport’s £1 billion expansion plan and a total of 45,000 new jobs from the four regeneration projects, including the Great Ducie Street, Mayfield, ID Manchester, and Central Retail Park.

Also, just a few minutes drive from Castlefield is Salford, with 9,500+ businesses that employ 150,000+ people. Salford’s regeneration developments, such as the Salford Quays and MediaCityUK, provide 250 enterprises, including ITV and BBC.

MediaCityUK, on the other hand, is expected to double its employment size after securing a £292.5 million five-year loan. The loan will fund the development of 10 new business buildings. These employment opportunities for Castlefield’s residents will be within reach as there are excellent transport links.